Market Scope
The global Sterilant Market is expected to gain significant
traction and demonstrate a remarkable growth rate during the forecast period
(2014-2022), says Market Research Future (MRFR) in its latest report.
Market Drivers and Key Challenges
The global market for sterilant has experienced a lucrative
growth pattern in the past decade, with MRFR predicting the market to grow at a
significant rate even in the coming years owing to the surge in product demand.
The chief reason for the healthy growth of the Sterilant Market is the increasing
demand for its parent market peroxyacetic acid across a number of industries
across the globe.
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The major uses of sterilant include preventing the risk of
contamination across the application industries like pharmaceuticals, food
& beverages, spacecraft, and medical. Also, the prominent companies within
the global Sterilant Market are striving to find a wide range of applications
for the product, with great success. This factor has helmed the growth of the
market, with a hike in the revenues at a global level.
Some of the majorly utilized sterilant include hydrogen
peroxide and peracetic acid. The primary reason for the wide acceptance of
hydrogen peroxide as a sterilant lies in its excellent oxidizing ability,
rendering it a vital aspect of sterilizing operations. Apart from this, in the
upcoming years, numerous initiatives by various government bodies around the
world are aiming to raise the uptake of important sterilization standards in
hospitals as well as ambulatory surgical centers (ASCs). This factor is
anticipated to present growth opportunities in abundance for the Sterilant
Market in the near future.
Market Segmentation
The market for sterilant is segmented on the basis of type
and application.
The type-based segments in the global Sterilant Market
include Steam, Eto/Eo, Depyrogenation/Dry Heat, and others. The increase in
surgeries which make use of highly complex surgical instruments like a tubular
instrument along with the subsequent need for sterilizing these instruments
will play a major role in the growth of the steam Sterilant Market.
The various applications of sterilant are food &
beverages, pharmaceuticals, medical, spacecraft, and others. The strong growth
of the Sterilant Market has been noted mostly in the food & beverage
industry, resulting from the hike in the demand for healthy packaged food
items, particularly in developing nations.
Key Players
The prominent vendors in the global Sterilant
Market include Symmetry Medical, Vention Medical, JBT FoodTech, Nipro
India Corporation Pvt Ltd, Getinge Infection Control AB, DeRoyal,
Phillips-Medisize, STERIS Corporation, Getinge Group, Sterigenics, and others.
Regional Analysis
The global market for sterilization is chiefly based in the
key regions of Europe, Latin America, Asia Pacific, North America, and the
Middle East and Africa.
North America is in the lead with the largest share of the
global Sterilant Market, due to the elevated number of surgical procedures and
the subsequent rise in the product demand across various industries. Also, the
regional market boasts of a large consumer base along with the well-developed
industries that lead to the increasing application of sterilant in the region.
The position of the Asia Pacific market is poised to elevate
in the coming years, with the growing use of sterilant in the healthcare
industry. Also, the growth in the number of pharmaceutical companies, along
with the rapid expansion of the food and beverage industry is predicted to be
the driving force for the regional market in the forthcoming years.
In Europe, strict regulations pertaining to disinfection of
medical devices for medical safety and the booming pharmaceutical industry as
well as the food and beverage industry are presumed to benefit the Sterilant
Market. In addition, growing investment aimed at developing healthcare
infrastructure, coupled with expansion of various other application industries
in the region is exhibited to drive the growth of the regional market during
the assessment period.
The steady growth of the medical device industry combined
with the subsequent need for sterilant for medical tools and equipment is
touted to be the crucial factor backing the growth of the Sterilant Market in
the Middle East and Africa.
Recent News
February 2019 Evonik is planning to increase the
capacity for hydrogen peroxide in the region of Europe. This is in addition to
launching a logistics center in Weissenstein and rearranging the production
sites in Europe. This strategy has been adopted by the company to meet with the
increasing customer demand who expect faster and efficient product delivery.
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